Exchanges need licences issued by the Venezuelan State in order to operate in Venezuela. Its reason lies in the protection of users of exchanges with a regulatory and administrative infrastructure.
Crypto exchanges are part of the whole cryptoasset system. The exchanges are intermediation platforms that people can use to carry out three basic operations: exchanges between fiduciary and cryptocurrencies, exchanges between cryptocurrency and fiduciary currency.
The platform provided by the exchanges involves everything related to the virtual wallets, the publication boards and validation of the identity of the users, so that in this way they comply with the protocols in the fight against legitimization of capital and financing terrorism.